Financial Sustainability

Goal

We will ensure sustainable financial health of Harrisburg Academy and provide facilities that will contribute to the educational experience of our students and foster innovation through our school community.

Rationale

Increased net-tuition and non-tuition revenue and expanded endowment resources are critical to the future of Harrisburg Academy. At the same time we expect sustainable sources of increased net tuition, we must find ways to become less dependent on tuition revenue. Non-tuition revenue-generating programs, such as merit scholarships and need-based financial aid, innovative auxiliary programs, and a successful comprehensive campaign, and efficient facilities maintenance are of the utmost importance.

Our Beliefs

A net-tuition model, including tuition discounting (e.g. merit scholarships, need-based financial aid, and tuition remission) is appropriate in managing access and affordability when combined with the strategy to increase net-tuition revenue.

The Academy will grow non-tuition revenue through the Academy Fund, Earned Income Tax Credit (EITC), and summer and after-school programming to enhance the financial health of the school.

The Bold Ambition comprehensive campaign will drive the Academy's development operations so that the effort will be completed within the next five years.

Effective use of the Academy's facilities master plan ensure our community will benefit from well-designed and environmentally sustainable building additions, renovations, and improvements that are adaptable to meet needs today, tomorrow, and in the future.

Strategies

Complete the first phase of the Academy's Bold Ambition campaign, raising $2 million for facilities improvement by September 2014. We will keep the effort on track to raise $3.5 million for facilities, $1.5 million in endowed funds, and $1.5 million for operations through the Academy Fund by 2018.

Grow the school’s aggregate tuition income over the next three years — by 6 to 8 percent — as a result of increasing our enrollment.

Review safety and security measures routinely to ensure we provide a safe and secure campus for all community members and guests.

Upgrade our current system of renewal and replacement to a more comprehensive preventative maintenance plan to streamline repair and replacement operations.